Rising prices in Japan may affect Indian engineering students’ choice of where to seek employment, according to the findings. Higher living costs and increased travel expenses were cited as sources of concern.
An opinion survey of Indian engineering students considering employment overseas has been released. The survey, which covered 1,348 people, analyzed how rising prices could affect their decision to seek employment in Japan and suggested that this may also affect recruitment by Japanese companies.
When asked whether they were concerned about rising prices in Japan, 61.1% said they were. Rising prices are expected to persist due to the weaker yen and higher resource costs, and the findings indicated that this could affect their choice of where to work in the future.
The most frequently cited reason for concern was higher travel and homecoming costs, cited by 75.3% of respondents. This was followed by concern that higher living costs in Japan would make life more difficult, at 63.5%, and concern that remittances to their families in their home countries would decline, at 38.5%.
The Bank of Japan’s July report pointed to upward pressure on domestic prices, while the Economic and Fiscal White Paper explained that higher crude oil prices could push up the deflator. In the Consumer Confidence Survey, more than 90% of respondents also expected the prices of everyday goods to rise over the following year, suggesting that rising prices could affect Japanese companies’ recruitment of IT talent from India.